From the Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $56.6 billion in January, up $2.7 billion from $53.9 billion in December, revised. … January exports were $200.9 billion, $2.7 billion less than December exports. January imports were $257.5 billion, down less than $0.1 billion from December imports.
Both exports and imports decreased in January.
Exports are 21% above the pre-recession peak and up 5% compared to January 2017; imports are 11% above the pre-recession peak, and up 7% compared to January 2017.
In general, trade has been picking up.
The second graph shows the U.S. trade deficit, with and without petroleum.
Oil imports averaged $54.76 in January, up from $52.10 in December, and up from $43.94 in January 2016.
The petroleum deficit increased in January, and this is the main reason the overall trade deficit increased in January.
The trade deficit with China increased to $36.0 billion in January, from $31.3 billion in January 2016.